Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
Agenda Title:

Priorities for Independence Power and Light Financial Surpluses.
Executive Summary:

This resolution was originally brought to City Council by Councilmembers Huff and Steinmeyer on November 16, 2020.  The resolution was not approved.  The PUAB wished to resubmit this item to City Council for consideration which occurred on December 21, 2020 but was postponed to January 4, 2021, at which time it was postponed indefinitely.  This item is brought forward for further City Council discussion.  
Background:

At the November 19 PUAB Meeting, the Board approved the following recommendation for the City Council's consideration:

Per Independence Missouri City Charter, Section 3.16, Item 9, may recommend to the executive or legislative officials of the city, programs for the financing, use ownership, service, operation, or franchising of public utilities operated within the city, including but not limited to recommendations regarding rate adjustments...

 
We the Public Utility Advisory Board endorse bill no. 20-809.  This bill will be reintroduced to the City Council for their consideration at the next scheduled City Council meeting.

 

The proposed Resiliency and Cash Balance Policy presented by PFM included a bandwidth tolerance of +/-10%. As part of the consideration of this item, the PUAB recommended applying the lower bandwidth of the policy in determining excess cash. 

Department:          City Manager's OfficeContact Person:          Adam Norris

REVIEWERS:
DepartmentAction
City Managers OfficeApproved
Finance DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved
Council Action:          Council Action:         
ATTACHMENTS:
DescriptionType
Bill No. 20-809Backup Material